Highest ever quarterly PAT
Q3 FY25 PAT at INR 56 crore; up 37% YoY
Q3 FY25 EBITDA at INR 134 crore; up 15% YoY

Mumbai । Black Box Limited (BSE: 500463) (NSE: BBOX), a leading digital infrastructure solution provider, announced its results for the quarter and nine months ending 31st December 2024. The Company’s focus on continuous improvement and enhanced productivity measures led to significant growth YoY in both EBITDA and PAT.

Consolidated Performance Highlights:

Profit and Loss (in INR Crore):

Particulars Q3FY25 Q3FY24 YoY Q2FY25 QoQ 9m FY25 9m FY24 YoY
Revenue 1,502 1,655 -9% 1,497 0% 4,422 4,801 -8%
EBITDA 134 116 15% 135 -1% 384 306 25%
EBITDA Margin 8.9% 7.0% – 9.0% – 8.7% 6.4% – PAT 56 41 37% 51 10% 144 109 49%
PAT Margin 3.7% 2.5% – 3.4% – 3.3% 2.0% –
Revenue for Q3FY25 stood at INR 1,502 crore, compared to INR 1,655 crore in Q3FY24. For 9mFY25 revenue stood at INR 4,422 crore compared to INR 4,801 crore in 9mFY24. Revenue was predominantly affected due to subdued order book as a result of delayed decision making with some of our large customers coupled with company’s strategy to exit the tail customers. However, the company’s pipeline for digital infrastructure, across industry verticals including hyperscalers, continues to grow, positioning Black Box for sustained growth and market leadership. Order book stood at US$ 465 million (approx. INR 3,900 crore) as of December 2024.

The Company reported robust quarterly and nine-month EBITDA and PAT. EBITDA for the quarter was INR 134 crore, reflecting a growth of 15% YoY. For 9mFY25, EBITDA grew by 25% YoY and stood at INR 384 crore. EBITDA margins for Q3FY25 improved by 130 basis points YoY to 8.9% whereas for 9mFY25, EBITDA margins improved by 230 bps YoY and stood at 8.7%. The EBITDA margins improved due to better efficiencies and improved productivity.

Profit after tax for Q3FY25 stood at INR 56 crore, highest ever, growing by 37% YoY and 10% QoQ. For 9mFY25, PAT increased to INR 144 crore, reflecting a growth of 49% YoY. PAT margins improved by 120 bps YoY and stood at 3.7% in Q3FY25 whereas for 9mFY25 PAT margins stood at 3.3%, reflecting a growth of 130 bps YoY. Strong operating performance has resulted in better profitability, despite higher exceptional items.

Black Box is capitalizing on the accelerating demand for digital infrastructure, particularly in the context of AI adoption. Recently, the company was awarded three large U.S. sites by one of the world’s leading hyperscalers for new data center build-outs, along with orders worth INR 250 crore. With hyperscalers significantly increasing their capital expenditure—projected at US$ 325 billion in 2025, a 55% year-over-year rise—Black Box is well-positioned to support the next-gen digital infrastructure powering AI and AI-driven models. These innovations are expected to accelerate IT infrastructure demand, driven by industries’ growing reliance on AI technologies for improved operational efficiencies and user experiences.

In addition to its hyperscaler engagements, Black Box is expanding its footprint across various sectors. Recent wins include an INR 100 crore cybersecurity project for a major municipal corporation, a global telecom network integration, and an INR 45 crore order for an airport. Black Box anticipates sustained demand for digital infrastructure across sectors, driven by the need for improved end-user experiences.

Black Box remains focused and committed towards building the next generation digital infrastructure for its global clients as it sees this decade as the era of a highly digital world, offering a sustained business growth opportunity.

Commenting on the results and performance Mr. Sanjeev Verma, Whole Time Director, Black Box said, “The rapid advancements in AI and the ongoing developments in this field are expected to drive a global surge in demand for AI tools across businesses. This, in turn, will accelerate the need for robust digital infrastructure. As a result, hyperscalers are making significant capital investments in AI infrastructure and data centers, reinforcing our confidence in reaching our growth target of US$2 billion in revenue by FY29.”

Mr. Deepak Kumar Bansal, Executive Director and Global Chief Financial Officer of Black Box, commented, “Our relentless focus on improving operating performance allowed us to achieve highest ever quarterly PAT. The company has, over the last few years, consistently generated strong ROE and ROCE, and remains committed to generating positive cash flows and better returns for the shareholders. Better efficiencies and productivity helped us in achieving stronger than estimated margins.”

About Black Box Ltd.
Black Box (BSE: 500463/NSE: BBOX) is a global leader in digital infrastructure solutions, delivering network and system integration, managed services, and technology products to Fortune 100 and top global enterprises. With a presence across the United States, Europe, India, Asia Pacific, the Middle East, and Latin America, Black Box serves businesses across financial services, technology, healthcare, retail, public services, and manufacturing.

Supported by a global team of around 3,600 professionals and strategic partnerships with leading technology providers, Black Box delivers end-to-end solutions in network integration, digital connectivity infrastructure, data centre buildouts, modern workplace solutions, and cybersecurity. Its Technology Products portfolio enhances business operations with cutting-edge solutions in AV, IoT, KVM, Networking, Infrastructure, and Cables.

For more information, visit www.blackbox.com

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